Sen. Bernie Sanders announced a plan Monday to forgive the country's $1.6 trillion outstanding student loan tab, intensifying the higher education policy debate in the 2020...Personal Financeread more
"We do not seek conflict with Iran or any other country," Trump tells reporters in the Oval Office.Politicsread more
While earnings usually come in substantially ahead of expectations — as much as 4 or 5 percentage points is not unusual — the downward direction in the outlook doesn't speak...Earningsread more
Tech's hottest IPOs of the year, including Beyond Meat and Zoom, dropped on Monday, falling more than the broader market.Technologyread more
"We missed being the dominant mobile operating system by a very tiny amount. We were distracted during our antitrust trial. We didn't assign the best people to do the work,"...Technologyread more
PatientsLikeMe was bought by UnitedHealth following a review by Trump's Treasury Department, which scrutinized the start-up because it's backed by Chinese cash.Technologyread more
Some traders think the energy rally is about to wane, despite the sector being one of June's big winners.ETF Edgeread more
Stocks with this one feature are poised to crush the market after a rate cut, according to Goldman Sachs.Marketsread more
An Air Canada passenger traveling to Toronto from a weekend in Quebec City found herself stranded alone on the tarmac and in the dark, in what she described as a "nightmare."Airlinesread more
When Victoria's Secret exited the swimsuit business in 2016, it opened the floodgates for start-ups to conquer that market.Retailread more
Shopify debuts a new network to help it compete with Amazon.Marketsread more
There is a significant chance the world economy is headed for a recession in 2019, according to Nobel Prize-winning economist Paul Krugman.
Market participants are increasingly worried about the prospect of a serious economic downturn in the coming months, with a long-running U.S.-China trade war souring business and consumer sentiment.
Most economists, as well as some the world's business elite, agree that economic growth is slowing but policymakers have expressed some hope for a soft landing rather than an outright recession.
Speaking at the World Government Summit in Dubai on Sunday, Krugman expressed skepticism about this scenario.
When asked whether investors should expect to see a recession in the coming months, Krugman replied: "I think that there is a quite good chance that we will have a recession late this year (or) next year."
Krugman is a professor emeritus of Princeton University's Woodrow Wilson School. He won the Nobel Prize in 2008 for his work on economic geography and identifying international trade patterns.
Krugman said it was unlikely that just "one big thing" would prompt an economic downturn. Instead, a range of economic headwinds would increase the likelihood of a slowdown.
He highlighted President Donald Trump's tax cut stimulus as one area of concern, saying the program was "not very effective." Krugman also warned it was "starting to look like the bubble may be deflating" when it comes to tech growth.
Citing a broad lack of preparedness among economic policymakers, Krugman said: "The main concern has always been that we don't have an effective response if stuff slows down."
"The place that looks really close to recession right now is the euro area," he added.
Late last week, the European Commission sharply downgraded its forecast for euro zone economic growth in 2019 and 2020.
The Commission said euro zone growth will slow to 1.3 percent this year from 1.9 percent in 2018 and is expected to rebound in 2020 to 1.6 percent.
The estimates were markedly less optimistic than the EU executive's previous forecasts, released in November, when Brussels expected the 19-country currency bloc to grow 1.9 percent this year and 1.7 percent in 2020.
The news exacerbated fears that a global economic downturn is spreading to Europe.
"By the way, my track record for this is bad — as is everybody's. No one is good at calling these turning points," Krugman said.